XML 43 R33.htm IDEA: XBRL DOCUMENT v3.19.2
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of assets that are measured at estimated fair value on a recurring basis
 
 
 
    
Estimated Fair Value Measurements Using
June 30, 2019
Total Estimated
Fair Value
 
 Level 1
 
 Level 2
 
 Level 3
               
Investment securities available for sale:
   
 
   
 
   
 
   
Municipal securities
$
9,014
 
$
-
 
$
9,014
 
$
-
Agency securities
 
9,470
   
-
   
9,470
   
-
Real estate mortgage investment conduits
 
38,590
   
-
   
38,590
   
-
Residential mortgage-backed securities
 
73,102
   
-
   
73,102
   
-
Other mortgage-backed securities
 
40,586
   
-
   
40,586
   
-
Total assets measured at fair value on a recurring basis
$
170,762
 
$
-
 
$
170,762
 
$
-
 
 
 
 
March 31, 2019
     
               
Investment securities available for sale:
   
 
   
 
   
 
   
Municipal securities
$
8,881
 
$
-
 
$
8,881
 
$
-
Agency securities
 
12,341
   
-
   
12,341
   
-
Real estate mortgage investment conduits
 
40,162
   
-
   
40,162
   
-
Residential mortgage-backed securities
 
75,821
   
-
   
75,821
   
-
Other mortgage-backed securities
 
41,021
   
-
   
41,021
   
-
Total assets measured at fair value on a recurring basis
$
178,226
 
$
-
 
$
178,226
 
$
-
Schedule of assets that are measured at estimated fair value on a nonrecurring basis
 
 
 
    
Estimated Fair Value Measurements Using
June 30, 2019
Total Estimated
Fair Value
 
Level 1
 
Level 2
 
 Level 3
   
 
 
    
 
    
 
Impaired loans
$
137
 
$
-
 
$
-
 
$
137
  
 
March 31, 2019
             
   
 
 
    
 
    
 
Impaired loans
$
394
 
$
-
 
$
-
 
$
394
Schedule of quantitative information about Level 3 inputs for financial instruments measured at fair value on a nonrecurring basis
   
Valuation Technique
 
Significant Unobservable Inputs
 
Range
             
Impaired loans
 
Appraised value
 
Discounted cash flows
 
Adjustment for market conditions
 
Discount rate
 
N/A(1)
 
6.25% 8.00%
             
(1) There were no adjustments to appraised values of impaired loans as of June 30, 2019 and March 31, 2019.
Schedule of carrying amount and estimated fair value of financial instruments
June 30, 2019
Carrying
Amount
 
Level 1
  
Level 2
  
Level 3
   
Estimated
Fair Value
Assets:
   
 
   
 
   
 
         
Cash and cash equivalents
$
24,112
 
$
24,112
 
$
-
 
$
-
 
$
24,112
Certificates of deposit held for investment
 
747
   
-
   
751
   
-
   
751
Investment securities available for sale
 
170,762
   
-
   
170,762
   
-
   
170,762
Investment securities held to maturity
 
33
   
-
   
33
   
-
   
33
Loans receivable, net
 
876,535
   
-
   
-
   
873,379
   
873,379
FHLB stock
 
3,658
   
-
   
3,658
   
-
   
3,658
                             
Liabilities:
                           
Certificates of deposit
 
90,462
   
-
   
89,554
   
-
   
89,554
FHLB advances
 
56,941
   
-
   
56,941
   
-
   
56,941
Junior subordinated debentures
 
26,597
   
-
   
-
   
14,202
   
14,202
Finance lease liability
 
2,395
   
-
   
2,395
   
-
   
2,395
 
 
Carrying
Amount
 
Level 1
  
Level 2
  
Level 3
   
Estimated
Fair Value
March 31, 2019
                   
Assets:
   
 
         
  
         
Cash and cash equivalents
$
22,950
 
$
22,950
 
$
-
 
$
-
 
$
22,950
Certificates of deposit held for investment
 
747
   
-
   
746
   
-
   
746
Loans held for sale
 
909
   
-
   
909
   
-
   
909
Investment securities available for sale
 
178,226
   
-
   
178,226
   
-
   
178,226
Investment securities held to maturity
 
35
   
-
   
35
   
-
   
35
Loans receivable, net
 
864,659
   
-
   
-
   
862,429
   
862,429
FHLB stock
 
3,644
   
-
   
3,644
   
-
   
3,644
                             
Liabilities:
                           
Certificates of deposit
 
86,006
   
-
   
84,455
   
-
   
84,455
FHLB advances
 
56,586
   
-
   
56,586
   
-
   
56,586
Junior subordinated debentures
 
26,575
   
-
   
-
   
15,468
   
15,468
Finance lease liability
 
2,403
   
-
   
2,403
   
-
   
2,403